Gemini , the crypto exchange founded by the Winklevoss twins, has reportedly tapped secured Nasdaq as a strategic investor as it plans for a public listing this week, Reuters reported on Sep. 9.
Two sources told Reuters that Nasdaq will invest $50 million in Gemini in a private placement.
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As part of the arrangement, Nasdaq's clients will have access to Gemini's custody and staking services, and Gemini's institutional clients will have access to Nasdaq's Calypso platform to manage and track trading collateral.
However, Gemini could change its plans according to changing market conditions, the sources cautioned.
Founded in 2014, Gemini is one of the largest crypto exchanges in the world. Its trading platform and the credit card offering XRP rewards have made it an immensely popular choice among crypto traders.
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With the IPO, the firm plans to raise approximately $317 million via the sale of its 16.67 million shares at the price range of $17-$19 at a valuation of up to $2.22 billion.
Jacob Zuller, an analyst at the global investment research firm Third Bridge, thinks the company chose the "perfect time" for an IPO, as it can capitalize on favorable conditions offered by the successful IPO of the Bullish (NYSE: BLSH) crypto exchange and regulatory clarity from a pro-crypto administration.
If and when Gemini goes public, it will be the third crypto exchange after Coinbase (Nasdaq: COIN) and Bullish to become a publicly traded company.
2025 has already seen the stablecoin issuer Circle (NYSE: CRCL) making a memorable public debut, and Gemini wouldn't want to miss the golden opportunity offered by the favorable conditions for the crypto industry this year.
This story was originally reported by TheStreet on Sep 9, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
